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G&C Mutual Bank First Home Premium Package Loan 2.79%, Offset Account (ADI), $375 Annual Fee

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G&C Mutual Bank First Home Premium Package Loan 2.79%, Offset Account (ADI), $375 Annual Fee
Go to Deal
dasher86 on 10/10/2019 - 14:46 gcmutual.bank (329 clicks)
Last edited 10/10/2019 - 14:55

Owner Occupier Principle and interest Variable rate 2.79%; comparison rate 2.79%*

And another home loan provider has dropped their rates, and is one to consider if you're after an offset.
This one does have an annual fee of $375; but they are a bank and should be an ADI.
https://www.gcmutual.bank/about-us/financial-claims-scheme

No establishment fee
No valuation fee
No monthly service fee on transaction account
No annual fee credit card for the first year
Borrow up to 100% of the purchase price of the property, plus additional associated costs with our family guarantor option
100% offset account
Redraw available5
Unlimited extra repayments
Up to 40 year term available4
$300 discharge fee
Minimum redraw amount of $100 and $30 service fee applies.
Available when one or more applicants are aged 30 years or less.

1 Eligibility criteria, terms & conditions and fees & charges apply. Maximum loan to valuation ratio 80% without Lender’s Mortgage Insurance. Available for new First Home Premium Package home loans from 2nd October 2019 and for existing First Home Premium Package home loans from 1st November 2019.
2 Comparison rate based on $150,000 loan over 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
3 Mortgage Insurance will be required if you borrow over 80% of the value of your home (or borrow an additional amount on your existing mortgage that brings the overall loan amount over 80% LVR).
4 Available when one or more applicants are aged 30 years or less.
5 Minimum redraw amount of $100 and $30 service fee applies.

AFSL & Australian Credit Licence 238311

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As with anything do your own research and this product may not be for you.

For those playing at home

Freedom lend 2.79%
https://www.ozbargain.com.au/node/487227

Athena 2.84%
https://www.ozbargain.com.au/node/486909

Homestar Finance 2.74%
https://www.ozbargain.com.au/node/486919

Ubank 2.84%
https://www.ozbargain.com.au/node/487030

Reduce Homeloan 2.77%
https://www.ozbargain.com.au/node/486902

Financial Home Loan

Related Stores

G&C Mutual Bank
G&C Mutual Bank

closed Comments

  • dcep on 10/10/2019 - 15:05

    what about non first home buyers

    • dasher86 on 10/10/2019 - 15:19

      It sounds like the product name only. Should be available to owner occupiers.
      Can always ask Them

  • mcnugget on 10/10/2019 - 15:38

    Can vouch for their customer service, been with them for many years.

    Bonus if you have a local branch as much easier to deal with than the big 4.

    • dasher86 on 10/10/2019 - 15:54

      Melbourne Service Centre Address: Level 1, 128 Exhibition Street, Melbourne VIC Hours: 10.00am - 2.00pm Monday, Wednesday-Friday (closed Tuesday)
      Wow…

      • mcnugget on 11/10/2019 - 11:29

        More of a regional NSW bank so not surprising. Sydney branch has usual business hours.

    • prax21 on 10/10/2019 - 15:58

      Do they pass on the rate cut to existing customers or they jack up after a while? Thanks

      • mcnugget on 11/10/2019 - 11:32
        +1

        Never jacked up excessively in my experience, competitive with the big guys

    • dcep on 10/10/2019 - 15:59

      what is your current rate ? OO P&I Var+Offset ?

      • mcnugget on 11/10/2019 - 11:40

        Fixed prior to rate cuts so not great, but similar to elsewhere at the time and only have a small balance remaining.

        Used to have a free offset with the fixed rate but phased that out recently. Still offer free for variable AFAIK.

        Service better than the big 4/online and rates competitive enough. Member owned banks are generally less out to screw you.

  • runamuck on 10/10/2019 - 16:41

    Anyone knows any lender with no annual fee that has offset?

  • death24 on 10/10/2019 - 22:28
    +1

    I dont get it 2.79% comparison rate with a $375 annual fee??

  • sickllama on 11/10/2019 - 07:20

    Their fees and charges list a 50c per transaction fee for using EFTPOS. Very unusual!

    https://www.gcmutual.bank/disclosures/qm1002_fees-and-charge…

  • Gifwonder on 08/11/2019 - 14:47

    Is this only for first home buyers? what if im in my first home and want to refinance?

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